Property Management and Real Estate Services

Calgary’s rental market can change from year to year.

 

However, well-experienced property management companies and their managers are up to date with the very latest. Wondering when the best time is to rent out your home is a common question amongst many owners. There isn’t always a straight across answer and can have various factors that you need to keep in mind.

 

Here is what can determine the timing of your listing. 

 

Three Factors That Determine The Best Time to List Your Rental Property In Calgary

 

1) Number of Listings: 

The number of listings in your area will have an impact on the best months to rent your Calgary property. According to rentfater.ca, when there are a higher number of listings, it’s typically an indication of more people looking to rent. For example, moving in the spring and summer months to avoid the cold weather, settle in before the school year starts, and also avoid holiday seasons. As a result, owners will typically rent their homes within these cycles of transition. If you are working with a property management company, they’ll have the latest information on the current rental market, and guide you through the most favourable options. 

 

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2) Average Price:
Check out the other rental properties in your area to get an idea of the rent you can charge. With a local Calgary property management company, they’ll take the time to determine if there have been any rent increases, decreases, or incentives to determine the best fair market rent for your condo or home. Wondering how much rent you should charge for your home? Read our guide here!

 

3) Peak Rental Season 

Once spring comes around, renters start looking for a fresh start and change of scenery. With this in mind, consider having your Calgary rental property ad up well in time for when people start making decisions. Typically, you should start the search for your new tenant 60 days prior to their lease ending, unless they have plans to renew. This gives you plenty of time to plan ahead and be proactive.

 

(Are you a renter looking for a new start in life? At Unison, we can help you. Read our guide here)

 

Managing your property and understand when is the best time to list your rental can be overwhelming and stressful. However, hiring a property management company gives you access to insider information, and up-to-date data on the best time to rent your property. 

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Buying a rental property in Calgary can be a worthwhile investment. However, for first-time investors, it can be overwhelming. The real estate investment market is riddled with various scenarios that can impact the whole venture. 

 

But having a reliable approach in which you can buy a house to rent can be valuable. This guide can help you invest in a property that pays off in the long-term. 

 

The Advantages of Buying a Calgary Rental Property

 

There are significant benefits that come with owning a house for rent in Calgary, including:

 

  • Regular monthly income – Your rent, minus the expenses, means consistent and steady cash flow. 
  • Appreciation – While there are no predictions regarding how much your home’s value will rise over time, it will appreciate over time regardless.
  • Tax deduction – Considering that your rental property is an asset, you can claim deductions from your gross rental income come tax time. These can include mortgage interest, property taxes, insurance, maintenance costs, Calgary property management fees and utility bills. 

Although there are some disadvantages, the positives outweigh the negatives. 

 

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Essential Tips For Buying a Calgary Rental 

 

If you’re ready to take the plunge into the investment property market, consider these tips first.

 

1 – Get your finances in order. Depending on your lender, Canada’s mortgage rules dictate that you must have at least 5% of the down payment on a property. Remember to consider other factors such as maintenance, costs and insurance. Crunch the numbers, and speak to your bank to see what you can afford.  

 

2 – Research ideal locations & their rental income. With a firm base of what you can afford, narrow down your search zone to see where you can buy it. Then, consider the average rental income for those locations. You can then calculate if it is worth investing in the area. You can also speak to a property manager in Calgary about location information. Make sure you consider:

 

  • Future developments planned for the area and how they might impact your property. 
  • Amenities, such as schools, hospitals and malls, around the area and how they might impact renters.
  • Safety, as no one wants to live in an unsafe neighbourhood. Inquire about crime rates. 

 

3 – Educate yourself on landlord-tenant laws. It’s best to know what laws you have when you start to rent out your property. Having a thorough understanding of what you and your tenants can and can’t do will be beneficial if issues arise in the future. 

 

4 – Think about the long-term. Remember that this property is about the long-term. It’s about making sure you have some income that will secure your future. Consider the options available to you, and if it is worth the investment. 

 

Plan Out Your Calgary Rental 

Once you have your property mortgaged, it is time to consider how you plan to rent it. There are two options: 

 

1- You DIY. You’re the landlord, and you run the property, taking care of everything, from collecting rent to property maintenance. 

 

2- You hire a Calgary property management company. The agent in charge of your property will handle everything for you for a monthly fee (which, as stated above, can be claimed on tax). 

 

Remember that there are many condos and houses for rent in Calgary as it’s a renters’ market. You will face stiff competition in terms of getting your home rented, so if you struggle with the extra work, consider hiring a professional to handle everything for you.

 

At Unison Realty Group Ltd. we will find the perfect rental for you in a location that fits your needs. We’ll handle what you don’t want, and you’ll enjoy the benefits.

For any questions or inquiries, please contact us:

Phone: (403) 219-3000

Email: [email protected]

Website: unisonrealty.com

As a property manager, you may think you’re getting away with doing everything yourself.

A professional property management company will help you enhance your investment by maintaining your Calgary rental property, and creating a pleasant environment that will attract better tenants.
Continue reading “Why Hire A Property Management Company? Here’s 6 Reasons”